Crestwood Advisors Group LLC decreased its stake in Norfolk Southern Co. (NYSE: NSC – Get Rating) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,972 shares of the railroad operator’s stock after selling 477 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Norfolk Southern were worth $ 1,133,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arlington Partners LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth $ 27,000. Vectors Research Management LLC increased its holdings in shares of Norfolk Southern by 468.8% in the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock valued at $ 27,000 after purchasing an additional 75 shares during the last quarter. First Community Trust NA acquired a new stake in Norfolk Southern during the fourth quarter worth $ 30,000. Richwood Investment Advisors LLC purchased a new position in Norfolk Southern in the fourth quarter valued at $ 37,000. Finally, Benjamin Edwards Inc. raised its stake in Norfolk Southern by 141.4% in the fourth quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $ 42,000 after buying an additional 82 shares in the last quarter. Institutional investors own 73.63% of the company stock.
In other Norfolk Southern news, CEO Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $ 241.84, for a total value of $ 241,840.00. Following the completion of the sale, the chief executive officer now owns 34,255 shares in the company, valued at approximately $ 8,284,229.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company stock.
Shares of NSC stock opened at $ 224.20 on Wednesday. The stock has a market cap of $ 53.43 billion, a P / E ratio of 18.10, a P / E / G ratio of 1.52 and a beta of 1.37. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.96 and a quick ratio of 0.87. The company has a fifty day moving average price of $ 245.71 and a two-hundred day moving average price of $ 266.11. Norfolk Southern Co. has a one year low of $ 219.31 and a one year high of $ 299.20.
Norfolk Southern (NYSE: NSC – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 EPS for the quarter, beating analysts’ consensus estimates of $ 2.91 by $ 0.02. The firm had revenue of $ 2.92 billion during the quarter, compared to analysts’ expectations of $ 2.83 billion. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The company revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $ 2.66 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 13.9 EPS for the current fiscal year.
Norfolk Southern announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 29th that authorizes the company to buyback $ 10.00 billion in outstanding shares. This buyback authorization authorizes the railroad operator to repurchase up to 14.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were paid a dividend of $ 1.24 per share. This represents a $ 4.96 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, May 5th. Norfolk Southern’s dividend payout ratio is presently 40.03%.
NSC has been the topic of a number of analyst reports. Citigroup lowered Norfolk Southern from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $ 345.00 to $ 260.00 in a report on Thursday, May 19th. Barclays decreased their price target on shares of Norfolk Southern from $ 300.00 to $ 255.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 14th. Susquehanna decreased their price objective on shares of Norfolk Southern from $ 356.00 to $ 350.00 and set a “positive” rating for the company in a research report on Thursday, April 7th. StockNews.com initiated coverage on shares of Norfolk Southern in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Susquehanna Bancshares reduced their price target on shares of Norfolk Southern from $ 356.00 to $ 350.00 in a research report on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $ 301.82.
About Norfolk Southern: (Get Rating)
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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